Steak From Outer Space
What if I told you it was now possible to create a steak using nothing but air? Well, I would be lying, however, Air Protein, a California-based startup, is looking to turn this dream into a reality. More specifically, Lisa Dyson and John Reed, a former physicist and a materials scientist, respectively, are working together at the Department of Energy’s Berkely Lab to combat climate change. Here’s how.
In 2019, NASA reported that the concentration of carbon dioxide (CO2) in the Earth’s atmosphere was sitting at an uncomfortable 412 parts per million (ppm). At the time, this demonstrated a 47% increase since the beginning of the Industrial Age. In the same year of NASA’s report, Dyson and Reed launched Air Protein, a startup on a mission to convert C02 into meat products like steak, fish fillets, and chicken breasts.
Interestingly, Air Protein’s manufacturing process is based on abandoned NASA research from the 1960s exploring ways of feeding astronauts. One of the ideas proposed in said research included combining microbes with the CO2 astronauts were breathing out to make food. Dyson and Reed first expanded on this concept in 2008 through the launch of Kiverdi, a biotechnology company credited for using recycled CO2 to create products like microbe-based alternatives to palm oil and citrus oil.
Fast-forwarding to the present, Air Protein now has its sights set on microbe-based meat. Similar to how yogurt is made, Air Protein’s process utilizes live cultures. The company cultivates hydrogenotrophic microbes inside fermentation tanks and feeds them a mixture of CO2, oxygen, mineral, water, and nitrogen. While the ingredients sound pretty awful, the result is a protein-rich flour, which has a comparable amino acid profile to meat protein.
Using a combination of pressure, temperature, and cooking techniques, this flour can supposedly be molded into something resembling meat. While I am a bit skeptical of just how similar Air Protein’s flour is to conventional meat, the company’s processing technology looks promising. In addition to being carbon negative, Air Protein’s manufacturing process uses 1.5 million times less land than beef and reduces water usage 15,000 times compared to beef.
In the future, Air Protein plans to eventually pull CO2 directly from the atmosphere through direct-air capture plants. Furthermore, the company is focused on making its manufacturing process cost-competitive with the meat industry and other meat alternatives like soy and mycoprotein. At the beginning of 2021, Air Protein raised over $30 million in funding from investors including ADM Ventures, Barclays, and GV, suggesting that things are looking good for the company.
Vejii Holdings Ltd.
- $14.86M Market Capitalization
Vejii Holdings Ltd. (VEJI.C) is a North American, online plant-based, sustainable products marketplace, headquartered in Kelowna, British Columbia (BC). Vejii operates its online marketplace ShopVejii.com in both Canada and the United States (US), along with VeganEssentials.com, an online vegan grocer. The Company is committed to providing its customers with easy access to thousands of plant-based and sustainable living products from hundreds of vendors through a centralized, online shopping experience.
By leveraging logistics infrastructure and distribution network technology integrations, Vejii is able to support its vendors and improve customer experience. Furthermore, Vejii utilizes technology to connect buyers with the products and brands they want. To be more specific, the Company uses the data gathered from its marketplace to inform every aspect of Vejii’s business, including expansion plans and investments.
Latest News
Most recently, on February 17, 2022, Vejii announced the launch of Planet Based Foods’ innovative hemp products including the HEMP Burger, HEMP Crumble, and the HEMP Sausage Patty products into the Company’s US platform. If that name rings a bell, that’s probably because I wrote about Planet Based Foods in my previous plant-based sector roundup, so I guess this is a bit of a double whammy.
“We are thrilled to welcome Planet Based Foods into our family of sustainable, vegan certified brands…Partnering with innovative companies that are committed to common sustainability goals is essential to Vejii’s growth as we continue to work towards building the world’s largest plant-based marketplace,” said Vejii’s CEO Kory Zelickson.
Vejii’s marketplace will enable Planet Based Foods to reach national exposure utilizing the Company’s existing infrastructure of data, tech, marketing, and logistics. In fact, through this partnership, Planet Based Foods will have access to more than 200,000 social media followers, brand ambassadors, and emailing marketing lists, courtesy of Vejii.
Furthermore, Vejii has identified hemp-based protein products as an emerging segment in the food sector. Ah, hemp. Once upon a time, I used to think I could get high off of hemp. In reality, while hemp and cannabis are both the same species, hemp is better suited as a source of fiber than a psychoactive substance.
In total, hemp produces 250% more fiber than cotton and 600% more fiber than flax on the same land and has the highest yield per acre of any natural fiber. In addition to being a great source of fiber, hemp is also incredibly sustainable, grows fast, and does not require the use of chemical pesticides or fertilizers. With this in mind, hemp has established itself as a favored crop in the production of meat alternatives like those offered by Planet Based Foods.
Vejii’s share price opened at $0.14 on February 17, 2022, even with a previous close of $0.14. The Company’s shares were down -7.14% and were trading at $0.13 at closing.
Full Disclosure: Vejii Holdings Ltd. (VEJI.C) is a marketing client of Equity Guru.
Zoglo’s Incredible Food Corp.
- $17.542M Market Capitalization
Zoglo’s Incredible Food Corp. (ZOG.C) is a plant-based food company featuring healthy plant-based food alternatives including appetizers, veggies, and meat substitutes. With this in mind, Zoglo’s products are distributed in more than 1,200 retail stores across Canada, including major supermarkets like Walmart, Shoppers Drug Mart, Sobeys, and Loblaws. Moreover, Zoglo’s has expanded its presence in both the United States and Europe, with plans to open an online store in the future.
Zoglo’s Incredible Food Inc., the Company’s wholly-owned subsidiary, currently offers 14 products through its Zoglo’s Original product line and 12 additional products through its Zoglo’s Incredible line of frozen meat alternative products. Zoglo’s Incredible Food products are also non-GMO, nitrate-free, and promote sustainable agriculture, improved animal welfare, and a healthier planet.
Latest News
Most recently, on February 15, 2022, Zoglo’s announced the appointment of Arkansas-based Summit Group, a Consumer Packaged Goods (CPG) company with over 50 years of experience, to introduce and represent the Company’s products across the US market. Summit will assist Zoglo’s by establishing a reliable retail supply chain infrastructure and amplifying the Company’s brand presence.
“We are excited to work with a high caliber group of professionals with a strong track record of delivering results…Their strong relationships and knowledge of major retailers in the U.S., including Walmart and Sam’s Club, will provide us with promising growth opportunities in this significant marketplace with strategically targeted customers,” said Zoglo’s CEO Anthony Morello.
On February 8, 2022, Zoglo’s announced the listing of its Incredible Food plant-based product line with Food Basics supermarket locations across Ontario. In addition to Food Basics, Zoglo’s also announced that its Incredible Food products have been listed with Marché Adonis supermarkets across Ontario and Quebec. In total, this partnership will expand Zoglo’s retail footprint to an additional 157 storefronts.
Zoglo’s share price opened at $0.18 on February 17, 2022, even with a previous close of $0.18. The Company’s shares were down -5.56% and were trading at $0.17 at closing.
Way of Will Inc.
- $6.29M Market Capitalization
Way of Will Inc. (WAY.C) is a Canadian CPG manufacturer and retailer offering a full range of natural, plant-based wellness products. Currently, the Company offers a total of 191 SKUs of natural skincare and wellness products through its main brand and sub-brands, Nude & Crude and Gū Society. Aside from skincare products, Way of Will offers body care, active, and eco-friendly product categories, among others.
Furthermore, all of Way of Will’s products are made using clean ingredients, free of harmful aluminum, parabens, synthetic oils, artificial coloring, and sodium lauryl sulfate. All of the Company’s essential oils are extracted from specific flowers, barks, stems, leaves, roots, fruits, plants, and resins. With this in mind, all of Way of Will’s products are focused on ethical and sustainable principles.
Latest News
Most recently, on February 14, 2022, Way of Will announced that it will be collaborating with SellCord to introduce over 50 product SKUs across multiple categories on Walmart Marketplace. It is worth noting that SellCord is an approved agency partner of Walmart.com. That being said, Walmart Marketplace is an e-commerce platform enabling third-party merchants, in this case, Way of Will, to sell their products on Walmart.com.
“As an online retailer, Walmart.com has already surpassed other industry giants such as Target, eBay, and Costco. We believe that there’s great room for growth and that brands that establish themselves early on will have a significant competitive advantage as the Walmart Marketplace platform continues to expand,” commented Michael Lebhar, CEO of SellCord.
With this in mind, Walmart Marketplace has been growing at an impressive rate, achieving e-commerce sales growth of 79% in the fiscal year 2021. In addition to selling its products on Walmart Marketplace, Way of Will announced it has been approved for Walmart Fulfillment Services (WFS), a program similar to and in direct competition with Amazon’s Fulfilled by Amazon (FBA) services. For context, WFS offers end-to-end fulfillment services for third-party e-commerce sellers with a focus on improving scale, quality, cost, and efficiency.
Overall, SellCord is projecting a higher sales growth percentage for Way of Will month-over-month in the initial few quarters, followed by a consistent 15-20% sales growth month-over-month as the Company continues to grow and introduce new products on Walmart Marketplace. In addition to assisting Way of Will with launching 50 new products, SellCord will assist the Company with PPC management, media creation and hosting, listing creation, optimization, and account management.
Way of Will’s share price opened at $0.00 on February 17, 2022, down from a previous close of $0.15. The Company’s shares were trading at $0.15 at closing.
GURU Organic Energy Corp.
- $380.911M Market Capitalization
GURU Organic Energy Corp. (GURU.T) is a fast-growing beverage company launched in 1999 when it pioneered the world’s first natural, plant-based energy drink. Since then, the Company has marketed its organic energy drinks across Canada and the United States (US) through a distribution network of more than 21,000 points of sale. Additionally, GURU has distributed its products through guruenergy.com and a major platform, Amazon.
Committed to “cleaning the energy drink industry,” GURU is focused on penetrating the 64% of millennials that consume energy drinks, fueling the market’s growth. GURU’s products contain no synthetic caffeine, artificial sweeteners, and taurine. Moreover, the Company’s products are certified organic and boast 140 mg of caffeine per 12 oz can. With this in mind, GURU has secured itself as the largest organic energy drink brand in Canada, with over 35% CAGR revenue growth.
Latest News
Most recently on February 15, 2022, GURU announced that its plant-based energy drinks will soon be available in more than 1,500 new retail locations, including grocery, drug, natural and independent retail chains. Believe it or not, I finally had the opportunity to try GURU’s organic energy drink, GURU Original. That should tell you just how often I step out of the house. While its flavor was nothing to write home about, GURU’s energy drink was, at the very least, able to stand on the same playing field as big-name brands like Red Bull in terms of taste.
“Thanks to our strong financial position, and the reallocation of a portion of our sales force, we now have the ability to put more effort into growing our business in the U.S. The work we have done to develop our distributor network is starting to pay off, and we are very optimistic about the future of the GURU nation,” said Carl Goyette, President and CEO of GURU.
However, despite not containing any artificial flavors or aspartame, GURU’s energy drink still left an odd taste in my mouth. Still, for an organic, vegan, and gluten-free drink, I was expecting a lot worse. That being said, I have yet to try GURU’s other flavors, which I am looking forward to trying in the future. Getting back to the news at hand, most of GURU’s new retail locations will be in California, which will have roughly 3,000 points of sale by late spring.
Since entering the US market, the Company’s expansion strategy has primarily focused on California, which represents the country’s largest consumer of organic products. In fact, in 2019, California’s organic product sales totaled more than $10.4 billion, representing an increase of 3.4% from 2018. Moving forward, GURU intends to make GURU Original, GURU Lite, GURU Matcha, and GURU Yerba Mate available in new points of sale over the coming months.
GURU’s share price opened at $12.30 on February 17, 2022, up from a previous close of $12.24. The Company’s shares were down -3.76% and were trading at $11.78 at closing.
